Senator David Norris' address to Seanad Eireann (the Irish Senate)

In Sept. 2007, fourteen months before Ireland's bank bailout, I resigned from my position as the Risk Manager of UniCredit Bank Ireland. I did that in order not to incriminate myself. I have spent the last 4 years seeking justice. On Feb. 23rd., 2010, I was fortunate to have Senator David Norris raise the matter in Seanad Eireann (the Irish Senate), and request a response from the Minister of Finance, Mr. Brian Lenihan. Senator Norris concluded by stating that:

"...there is ministerial responsibility in this matter.
This is a grossly serious matter which has been reported to the Financial Regulator. A man has lost his job as a result. He honourably resigned. The degree of breach was 40 times the accepted margin. This is a disaster. If we are not prepared to face the issue and investigate it when it has been laid before the House, there is absolutely no hope for the financial system or its reputation worldwide...How can the Financial Regulator investigate himself? He was in breach of his responsibility."

In Nov. 2011, Emma Alberici, Europe correspondent for ABC TV, told my story as part of her documentary 'Going Rogue' which featured Nick Leeson and Sir John Vickers among other interviewees. It is ironic that at a time when the Irish tax-payer is bailing out un-secured bond holders, my story which occurred in Dublin, is deemed of interest to the Australian TV license payer. Please click on 'play video' on the following link:

Tuesday, 26 July 2011

An open letter to the banker who contacted me:

Dear fellow banker,

I am responding publicly to your email to me as I believe that the dilema you are facing is one that is probably tormenting many others at the moment.

Only you can make a decision about what is the 'right thing for you to do'. Ultimately only you can decide how to negotiate the tension that you contend with daily between the 'party line' and the REAL figures on the one hand, and your obligations as a family man on the other.

If you decide to take action in view of the gap between 'the party line' and the REAL figures, there is no telling what the future may hold for you. In my case, it took the Financial Regulator 3.5 years to invite me to a meeting. I doubt that meeting would ever have happened had it not been for the fact that my issue was raised in the Austrian parliament, especially so soon after our entire banking system neared complete collapse and required bailout.

As you have probably noticed, not a single banker, nor a single politician, has been held accountable for the flagrant breaches of the law. 'It just broke, it wasn't me' is the infantile excuse they all made, and we have allowed them to get away with it.

You and I both know that the taxes that our families, friends, and neighbours are paying, are disappearing into a bottomless pit called banks. The schools and hospital wards that are shutting down all around us are just part of the 'Belt Tightening' that our Dear leaders are advocating.

Only you can decide what is the right thing for you to do. As you and I both know, the consequences of taking action, or not taking action, can be severe and far-reaching.